Comment Re:Why do merchants need to retain CC info? (Score 1) 135
If, after a transaction, the hotel needs to do something like refund part or all of the charge (e.g. returning a deposit), it would seem like they should be able to do that with just the transaction ID. Is there something I'm missing?
The fact that VISA/Mastercard/etc (or by proxy, most payment processors) provide no way to do that.
Why do they need to retain the info?
When the customer inquires about a charge, they don't/can't/won't have a transaction identifier. There is no transaction identifier issued by a card provider, just an approval and authorization code.